Platinum Power's Strategic Acquisition of Legacy Electric
Platinum Power Holdings, LLC is thrilled to announce its latest acquisition—the addition of Legacy Electric, LLC. This strategic move enables Platinum to expand its service capabilities significantly. Legacy Electric, an esteemed electrical contractor, has built a solid reputation specializing in commercial and industrial projects in the southern region. With its base in Hattiesburg, Mississippi, Legacy Electric has established itself as a trusted provider in the electrical infrastructure landscape.
Leadership Transition and Growth Opportunities
As part of this exciting acquisition, Bob Chain, Jr., the founder of Legacy Electric, will step into the role of Chief Executive Officer for Platinum Power. Bob brings a wealth of experience to the position, ensuring that the merger is fruitful and beneficial for both companies.
Bob expressed his enthusiasm regarding the acquisition, emphasizing the advantages that the combined resources will offer: "I am excited to be a part of Platinum Power. Given our combined experience and operating footprint, we are well positioned to meet our customers' growing demands for comprehensive infrastructure services, all while maintaining a strong focus on quality and safety."
Enhancing Service Coverage Across the Southeast
This merger marks a significant milestone for Platinum Power as it now serves a broader region, which includes not only Arkansas but also the five Gulf states. This expanded geographical footprint allows the company to provide turn-key construction and maintenance solutions for aerial and underground power systems.
Platinum has been at the forefront of the electrical infrastructure industry for decades, consistently delivering high-quality solutions across the country's power grid. This new chapter will further empower both companies to meet the increasing demands of their clients efficiently.
Future Prospects and Customer Benefits
Looking ahead, both Platinum Power and Legacy Electric are poised for substantial growth. The combination of their expertise and resources will enhance their service delivery capabilities. Bob Chain, Jr. stated, "I am looking forward to the continued growth of our combined companies. This merger will lead to improved access to critical capacity and capabilities, ultimately benefiting our customers."
About Platinum Power
Platinum Power is recognized for providing overhead and underground distribution and transmission infrastructure services to utilities, cooperatives, and engineering and procurement clients. Based in Pottsville, Arkansas, Platinum also operates additional locations in Louisiana and Mississippi.
As a compelling investment, Platinum Power is supported by Cotton Creek Capital, based in Austin, Texas. The company continues to seek opportunities for growth, ensuring that they are ready to meet the needs of an evolving energy sector.
About Legacy Electric
Founded in Hattiesburg, Mississippi, Legacy Electric focuses primarily on electrical projects in commercial, industrial, and public work sectors. The company prides itself on employing a highly skilled workforce capable of navigating complex electrical challenges. This includes services like installation of generators, lighting for sports fields, roadway illumination, and comprehensive support for new construction and renovation projects.
Media Contact Information
For further inquiries, please reach out to: Tawny Goddard, Phone: 512-412-3300, Email: tgoddard@cottoncreekcapital.com
Frequently Asked Questions
What is the significance of Platinum Power acquiring Legacy Electric?
This acquisition will enhance Platinum's service capabilities and coverage across the Southeast, benefiting customers with improved access to services.
Who will lead Platinum Power after the acquisition?
Bob Chain, Jr., the founder of Legacy Electric, will take on the role of Chief Executive Officer of Platinum Power.
What types of services does Platinum Power provide?
Platinum Power offers overhead and underground infrastructure services for utilities and cooperatives, along with construction and maintenance solutions.
Where is Legacy Electric primarily located?
Legacy Electric is headquartered in Hattiesburg, Mississippi, and primarily serves the southern Mississippi region.
How does this merger affect customers of both companies?
The merger provides customers with access to greater resources and capabilities, enhancing service delivery and capacity for project execution.
